HBAR ETF next? More crypto ETFs expected in 2025: analyst

Bloomberg analysts Eric Balchunas and James Seyffart predict an increase in funds traded on cryptocurrency exchanges in 2025.

Following the approval of Bitcoin (BTC) and Ethereum (ETH) ETFs this year, speculation has increased as to which crypto ETFs could be launched next. With upcoming leadership changes at the SEC, Balchunas and Seyffart shared their views on X and discussed their views on the cryptocurrency market.

“We expect a wave of cryptocurrency ETFs next year, if not all at once,” Balchunas shared on X. His optimism dovetails with the expected departure of SEC Chairman Gary Gensler in January following Donald Trump’s election victory.

Frequently criticized for his cautious stance on crypto, Gensler is seen as a significant obstacle to the approval of new digital asset investment products.

We expect a wave of cryptocurrency ETFs next year, though not all at once. First probably btc + eth combination ETFs, then Litecoin (bc fork = commodity), then HBAR (not labeled as a security), then XRP/Solana (labeled as securities pending…). pic.twitter.com/29vMdciZxE

— Eric Balchunas (@EricBalchunas) December 17, 2024

HBAR and LTC ETFs?

Analysts predict that dual Bitcoin and Ethereum ETFs from firms such as Hashdex, Franklin Templeton, and Bitwise will lead the charge. Seyffart added that Litecoin (LTC) and Hedera (HBAR) ETFs could also follow, noting that regulators classify them as commodities or assets that are not considered securities.

Balchunas noted that the most likely sequence of events is “btc + eth combination ETFs, followed by Litecoin (bc fork = commodity) and then HBAR (not labeled as a security).”

Seyffart noted that Solana (SOL) and XRP (XRP) ETFs are facing regulatory delays. These assets remain embroiled in legal battles over their classification as securities and are unlikely to be approved until the new SEC administration takes control.

Despite the potential of Litecoin or HBAR ETFs, Seyffart also questioned whether these niche funds would attract significant investor demand.